Compliance Quiz

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Compliance and Money Laundering Awareness Quiz

Test your knowledge on compliance and money laundering regulations with our engaging quiz. Understanding these critical concepts is essential for any financial professional.

Get immediate feedback on your answers
Learn about key compliance practices
Enhance your understanding of KYC and AML

14 Questions4 MinutesCreated by MonitoringEagle738

Money Laundering Refers to

Conversion of Black Money into white Money

Conversion of Cash into GoldConversion of assets into Cash

Conversion of assets into Cash

Know Your Customer

What are the key stages in the Money Laundering process?

Integration, Leaving & Depositing.

Depositing, Integration & Exchange.

Placement, Harassment & Substitution.

Placement, Layering & Integration.

Which of the following terms is used to describe the process of depositing money into Bank account using Banks or Money exchange business?

Integration

Camouflage

Layering

Placement

If I see something that looks suspicious what should I do?

Say nothing and hope that it will go away

Inform your Compliance officer or Manager

Discuss it with the client

Contact the Police

How long are verification records required to be kept by law?

10 Years

2 Years

6 Months

3 Years

Which of the following is not acceptable as verification of identity?

Passport with Valid Visa

Resident card issued by Oman Government.

Civil Card or Identity card issued by Oman Government

Birth Certificate.

What is KYC (Know Your Customer)?

Process of identification and verification of your customers.

Conversion of Dirty money into clean money.

Penalty for disobeying a law or rule.

Process of collecting and evaluating potential risk.

Failure to report suspicious activities can result in penalties or legal action against you and your company.

True

False

What below are Sources for Dirty Money or illegal Money?

Funds obtained from Drug Trafficking.

Funds obtained from Smuggling.

Funds obtained from Terrorism.

All of the above.

Which below are source of funds documents?

Bank statement

Pay slips

Withdrawal slip

All of the above.

Know Your Customer (KYC) - Customers are required to provide what compulsory details when registering?

Name, Address & DOB

Name, Address, DOB and Telephone number

Name, Address & Credit Card

None of the above

Customer verification is vital to any KYC procedure. What is acceptable in verifying an individual customer? Select the correct response from the alternatives below. In verifying an individual customer, you can rely on _____________________

None of these

Sighting original identification such as Government ID.

A reference from good friend

All of the above

Which below details are required for Identification of customer?

Strict adherence to KYC norms is achieved through

Identification of customers with appropriate documents

Following the CBO authority guidelines

Strict implementation of the Internal systems and procedures while opening the accounts

All of the above

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